Oncolytics Biotech (NASDAQ:ONCY) Announces Earnings Results, Misses Estimates By $0.03 EPS

Oncolytics Biotech (NASDAQ:ONCY) announced its quarterly earnings results on Thursday. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03), FiscalAI reports.

Oncolytics Biotech Trading Up 0.2%

NASDAQ ONCY traded up $0.00 during trading on Thursday, reaching $0.87. The company’s stock had a trading volume of 749,441 shares, compared to its average volume of 1,244,824. The firm has a market capitalization of $101.37 million, a price-to-earnings ratio of -3.01 and a beta of 1.02. Oncolytics Biotech has a 12 month low of $0.33 and a 12 month high of $1.51. The firm has a 50 day moving average price of $0.97 and a 200 day moving average price of $1.00.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ONCY. Weiss Ratings upgraded shares of Oncolytics Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Oncolytics Biotech from a “strong sell” rating to a “hold” rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.50.

Institutional Trading of Oncolytics Biotech

A number of institutional investors have recently bought and sold shares of ONCY. Citadel Advisors LLC bought a new stake in Oncolytics Biotech in the 3rd quarter valued at about $535,000. Scientech Research LLC bought a new stake in Oncolytics Biotech in the 3rd quarter valued at about $25,000. CIBC Private Wealth Group LLC bought a new stake in Oncolytics Biotech in the 4th quarter valued at about $44,000. Tocqueville Asset Management L.P. bought a new stake in shares of Oncolytics Biotech during the 4th quarter worth approximately $63,000. Finally, Security National Bank of Sioux City Iowa IA bought a new stake in shares of Oncolytics Biotech during the 4th quarter worth approximately $29,000. Institutional investors own 6.82% of the company’s stock.

Oncolytics Biotech Company Profile

Oncolytics Biotech Inc (NASDAQ: ONCY) is a clinical-stage biotechnology company focused on the development of novel oncolytic viral therapies for the treatment of cancer. The company’s lead investigational agent, pelareorep (Reolysin), is a proprietary formulation of reovirus engineered to selectively infect and destroy tumor cells while stimulating a systemic antitumor immune response. Oncolytics leverages the natural biology of the virus to enhance the activity of standard?of?care treatments and immune checkpoint inhibitors.

Pelareorep has progressed into multiple advanced clinical trials, with combination studies conducted in metastatic breast cancer, non?small cell lung cancer and head and neck cancers.